Minter Blockchain is multi-coin system.
Note: Each coin has its own pip. You should treat pip like atomic part of a coin, not as currency.
Every user of Minter can issue own coin. Each coin is backed by base coin in some proportion. Issue own coin is as simple as filling a form with given fields:
- Coin name - Name of a coin. Arbitrary string up to 64 letters length.
- Coin symbol - Symbol of a coin. Must be unique, alphabetic, uppercase, 3 to 10 letters length.
- Initial supply - Amount of coins to issue. Issued coins will be available to sender account.
- Initial reserve - Initial reserve in base coin.
- Constant Reserve Ratio (CRR) - uint, should be from 10 to 100.
After coin issued you can send is as ordinary coin using standard wallets.
To issue a coin Coiner should pay fee. Fee is depends on length of Coin Symbol.
Each coin in system can be instantly exchanged to another coin. This is possible because each coin has “reserve” in base coin.
Here are some formulas we are using for coin conversion:
- Given a coin supply (s), reserve balance (r), CRR (c) and a deposit amount (d), calculates the return for a given conversion (in the base coin):
return s * ((1 + d / r) ^ c - 1);
- Given a coin supply (s), reserve balance (r), CRR (c) and a sell amount (a), calculates the return for a given conversion
return r * (1 - (1 - a / s) ^ (1 / c));